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Published on 9/08/2019 1:37:14 PM | Source: Reuters

SpiceJet posts quarterly profit as Jet downfall drives demand

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BENGALURU - Indian budget airline SpiceJet Ltd on Friday reported a profit for the June quarter, as it flew more passengers and raised fares in the wake of the collapse of rival Jet Airways.

Standalone net profit, excluding earnings of non-core units, was 2.62 billion rupees ($37.13 million) in the three months to June-end, compared to a loss of 380.6 million rupees a year earlier.

($1 = 70.5650 Indian rupees)

(Reporting by Sachin Ravikumar; Editing by Subhranshu Sahu)